In re Infinity Q Diversified Alpha Fund Sec. Litig.

Full title: IN RE INFINITY Q DIVERSIFIED ALPHA FUND SECURITIES LITIGATION, Plaintiff…

Court: Supreme Court, New York County

Index No. 651295/2021

Date published: Dec 21, 2023

Fact:

Plaintiffs Andrea Hunter (“Hunter”), David Rosenstein (“Rosenstein”), Neil O’Connor (“O’Connor”), and Schiavi + Company LLC DBA Schiavi + Dattani (“Schiavi and Dattani”) (together, “Plaintiffs”), brought this class action individually and on behalf of all others similarly situated that purchased Infinity Q Diversified Alpha Fund Investor Class (IQDAX) or Institutional Class (IQDNX) shares from February 25, 2018 to February 18, 2021, inclusive (the “Class Period”) pursuant or traceable to prospectuses dated February 1, 2018, December 21, 2018, or December 20, 2019 that were filed with the SEC as part of registration statements (the “Prospectuses”). Plaintiffs alleged that the Fund, through its investment advisor, trustees, underwriter, auditor, and other Defendants, violated the Securities Act of 1933 by registering, offering, and selling the shares utilizing misleading registration statements and prospectuses.

In Motion Sequence No. 20, Plaintiffs on behalf of themselves and the class, seek: (i) final judicial approval of a proposed settlement set forth in an Amended Stipulation of Settlement (the  “Settlement”) dated September 7, 2022 (Doc 177 [Settlement]); (ii) final judicial approval of the Plan of Allocation (the “POA”); (iii) final judicial approval of Plaintiffs’ counsel’s motion for attorneys’ fees and expenses; and (iv) a service award to Plaintiffs for representing the Class.

Issue:

Conclusion:

The court has considered the parties’ remaining arguments and finds them unavailing.

Accordingly, it is

ORDERED that Motion Seq. No. 20 is granted to the extent set forth in this decision and order and in the accompanying Judgment and Order Granting Final Approval of Class Action Settlement; and it is further 

ORDERED that any applications for attorneys’ fees, costs, or other expenses must be e-filed and emailed to the court by 1/8/24, otherwise waived; and it is further

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